View Full Version : Tharman says $1k monthly salary can buy flat
How he calculate one?
Wat subsidies are he talking about?
:beats-me-man:
i assume he has do the homework..
hope he can tell us how to do it while he can continue to sleep soundly in his landed house every night:)
Those 1-2 Bedrooms start from 80k+ right in Fernvale? 1 month installment around $200?
ya assuming one can meet the requiremnt to buy direct from HDB and is lucky to get a ballot number, beat the queue and heng heng get a cheap unit.
Its not as if got a 80k flat available, I want sure get leh.
Those 1-2 Bedrooms start from 80k+ right in Fernvale?
ya assuming one can meet the requiremnt to buy direct from HDB and is lucky to get a ballot number, beat the queue and heng heng get a cheap unit.
Its not as if got a 80k flat available, I want sure get leh.
He didnt say you want sure can get wat? He say $1000 can buy.
Fernvale Flora and Fernvale Gardens
$88,000 to $120,000 for a 2-room;
Segar Vale
$83,000 to $108,000 for a 2-room;
Buying a 2-room: Your average gross monthly household income must not exceed $2,000.
If u fulfill the criteria of household income not more than $2k Why cannot buy? Go apply quickly?
The 1k income can afford to buy flat comes from the same urban myth where $8 can do heart bypass surgery...
$1k per month definitely can, even for condos. Just downpayment 90% and the rest 10% by instalment.
$1k per month definitely can, even for condos. Just downpayment 90% and the rest 10% by instalment.
Ya lor, Piglet if you want a 80k HDB u can find a job that pays <2k a month then after everything is approved quit again?
Actually if i think about it, its possible la.
a scenerio for example, I am a 35 year old who still live with my parents. I don't give them money to contribute to household. what I earn I use on myself only.
makan I eat the cheapest =$300/mth
I only take bus and MRT one time a day, rest of the time I walk: $50/mth
I only buy clothes every chinese new year. average out: $10/mth
My Handphone bill : $24 cheapest plan
with my basic needs covered, I only spend $384 a mth only and can save at least $600/mth!
So I only need 2 years to save $14k which I can put a downpayment for a HDB flat!!
Only 2 years!
But I will probably never find a wife becasue I'm too broke to groom myself and go on dates........and i will be known as the selfish bastard son who does not take care of my parents.
nation building what???
Actually if i think about it, its possible la.
a scenerio for example, I am a 35 year old who still live with my parents. I don't give them money to contribute to household. what I earn I use on myself only.
makan I eat the cheapest =$300/mth
I only take bus and MRT one time a day, rest of the time I walk: $50/mth
I only buy clothes every chinese new year. average out: $10/mth
My Handphone bill : $24 cheapest plan
with my basic needs covered, I only spend $384 a mth only and can save at least $600/mth!
So I only need 2 years to save $14k which I can put a downpayment for a HDB flat!!
Only 2 years!
But I will probably never find a wife becasue I'm too broke to groom myself and go on dates........
nation building what???
Haha you probably wont need a HP plan, just get a pre-paid card its cheaper.
You have yourself to blame for only earning less than 2k a month. Everyone has a chance to survive. Every country has the rich and the poor. How can everyone be rich and doing high salary jobs?
ikan bilis
02-03-12, 13:37
hey... forgot still got something called "cpf".... :D
Aiya i'm just trying to say, someone who earns less than$1k per month relistically cannot afford to buy his own flat la!
In reality, a person who is only capable of earning 1k a month Of course can only blame himself for not being able to enjoy a better life with his own HDB flat... these peole will probbaly stay with parents/ relative, rent a small room, etc.
That is a fact and should be acknowledged wat.
To say that people who earn 1k can buy a HDB flat like its something so easily achieveable, somehing just don't feel right.
Haha you probably wont need a HP plan, just get a pre-paid card its cheaper.
You have yourself to blame for only earning less than 2k a month. Everyone has a chance to survive. Every country has the rich and the poor. How can everyone be rich and doing high salary jobs?
Wah lau THARMAN is Da Man lar. He say anything I close one eye also believe. IMO he is one of those who really deserve the high paying salary; there is a reason why his head is shiny ok? Cant anyone sense his gleaming aura when he gives speech in the parliament house?
The 1k income can afford to buy flat comes from the same urban myth where $8 can do heart bypass surgery...
hahaha. :D
one who earn $10k can loan upto 1.5m so $1k should be able to loan upto $150k. just rent out one rm. i think for those who earn less, the more they must get a HDB flat. it is wealth accumulation. afterall if really have problem paying instalment, go to MP and govt will not chase u out. this is the good point abt our govt.
ikan bilis
02-03-12, 14:45
ummm... buy 83K 2rm bto....
- can have downpayment 20K paid by subisdy? got govt subsidy right??
- remaining 65K, 2.6%. 25yr at $295/month...
cpf may be can cover $200... need top up $100 in cash...
??.. :confused:
Wah lau THARMAN is Da Man lar. He say anything I close one eye also believe. IMO he is one of those who really deserve the high paying salary; there is a reason why his head is shiny ok? Cant anyone sense his gleaming aura when he gives speech in the parliament house?
its just strong lighting...
How he calculate one?
Wat subsidies are he talking about?
:beats-me-man:
1k LEGAL income...10K illegal income...:D..play horse,casino,geylang,ah-long...:scared-1:
its just strong lighting...
Lol... Haha.. You guys are killing me..
KBW should come out with detail working to show how someone with $1k salary can buy small flat. Logically, working need to show young family starting out say just married with new born, wife not working.....
Damage control by KBW..., now put in a spot by Tharman comment...
http://www.channelnewsasia.com/stories/singaporelocalnews/view/1186651/1/.html
Khaw Boon Wan clarifies Tharman's "buying HDB flat on $1K pay"
By Joanne Chan | Posted: 02 March 2012 2236 hrs
SINGAPORE: National Development Minister Khaw Boon Wan has clarified comments made by Deputy Prime Minister Tharman Shanmugaratnam, that a household with a S$1,000 income can afford an HDB flat.
Mr Khaw said the comment had caused a stir, as it sounded so incredible.
But he said Mr Tharman was referring to a two-room Built-To-Order (BTO) flat.
That's because such a flat would cost a first-time applicant - who earns S$1,000 - about S$40,000, after subsidies.
The mortgage payment, said Mr Khaw, can be fully paid through the applicant's CPF, without incurring any additional out of pocket money.
Mr Khaw added that most applicants of two-room flats earn above S$1,000.
And based on recent BTO launches, the median income for this group is about S$1,400.
- CNA/ck
thomastansb
02-03-12, 22:41
I agree with Tharman or KBW. 1k can really buy a 2 bedroom BTO. Cannot be earn 1k want to buy sentosa right?
thomastansb
02-03-12, 22:48
No need KBW. Anyone can calculate.
2 bedroom BTO cost 40k after all the grants.
4k DP, 36k loan from HDB @ 2.6% for 25 years = 1 month $163.
CPF OA - $230 total, based $500 husband, $500 wife income.
Ok leh, every month OA still got $67 extra a month. Can save up for rainy days.
Those who say not possible must be talking cock or stupid. As I said, you earn $500 a month, don't dream about 4 bedroom. Either you earn more or just suck it up. If every poor guy want big house, then we will become Greece in 5 years.
KBW should come out with detail working to show how someone with $1k salary can buy small flat. Logically, working need to show young family starting out say just married with new born, wife not working.....
HDB website on fernvale 2bdrm BTO use $1200 as median household income
http://www101.hdb.gov.sg/hdbvsf/eampu01p.nsf/0/12JANBTOSK_page/$file/12JANBTOSK_about1.htm?open&ft=bto
Now KBW need to lower 2bdrm BTO price so that HDB can use medium income of $1k in new table
buttercarp
02-03-12, 22:49
I agree with Tharman or KBW. 1k can really buy a 2 bedroom BTO. Cannot be earn 1k want to buy sentosa right?
Ya lor.....Tharman just said earn 1k can buy flat.
He nebber said what type of flat.
It's just common sense.
dun understand whats all the fuss about.
thomastansb
02-03-12, 23:40
Well, there are always losers and fools saying 1k how to buy 5 bedroom. Just laugh at them lor. Losers. Tharman never say studio good liao. Studio also a home. Just too bad they earn too little but at least the society didn't forsake them.
Ya lor.....Tharman just said earn 1k can buy flat.
He nebber said what type of flat.
It's just common sense.
devilplate
02-03-12, 23:50
Can they buy bto flat without any dp? I tink few k for them really tough lor....1k salary really little.....how to save wor?
if the earlier comment by T wasnt misleading, there wont be a need now for khaw to clarify..
yah lor, I also believe $1k pm can buy a $40k HDB flat!
That is why I don't understand, why they introduce ABSD? Those who can't afford private properties should just buy & continue live HDB! :p
Damage control by KBW..., now put in a spot by Tharman comment...
http://www.channelnewsasia.com/stories/singaporelocalnews/view/1186651/1/.html
Khaw Boon Wan clarifies Tharman's "buying HDB flat on $1K pay"
By Joanne Chan | Posted: 02 March 2012 2236 hrs
SINGAPORE: National Development Minister Khaw Boon Wan has clarified comments made by Deputy Prime Minister Tharman Shanmugaratnam, that a household with a S$1,000 income can afford an HDB flat.
Mr Khaw said the comment had caused a stir, as it sounded so incredible.
But he said Mr Tharman was referring to a two-room Built-To-Order (BTO) flat.
That's because such a flat would cost a first-time applicant - who earns S$1,000 - about S$40,000, after subsidies.
The mortgage payment, said Mr Khaw, can be fully paid through the applicant's CPF, without incurring any additional out of pocket money.
Mr Khaw added that most applicants of two-room flats earn above S$1,000.
And based on recent BTO launches, the median income for this group is about S$1,400.
- CNA/ck
I love tharman becoz he is da man so dun blast him ok? But isn't it common sense that $1k buy BTO HDB obviously not referring to super large HDB in super prime locations. Where got such thing as cheap n gd?
The 1k income can afford to buy flat comes from the same urban myth where $8 can do heart bypass surgery...Same author wat... no choice... :eek:
Another own goal...:D
Just another own goal like ""How much do you want? Do you want 3 meals in a hawker centre, food court or restaurant?" quote..; the cold "face the reality and bite the bullet" attitude......
The government could have used the revenues to upgrade the infrastructures and provide more for old age health care and security rather than on useless overseas investments.
Technically Tharman is right. $1K/ mth X 35 years can buy you many things.:) If banks start giving multi generation loans 1K can buy you landed pty too.:D
A 1k/mth salary gets how much cpf? Put together for 40yrs can't even pay $40k, not forgetting hdb interest rates... so how? must top up cash lor... so that poor chap don't have to marry or can marry but no children lor... is that what govt wants? :rolleyes:
Technically Tharman is right. $1K/ mth X 35 years can buy you many things.:) If banks start giving multi generation loans 1K can buy you landed pty too.:DGood... i take multi generation loan but don't have kids so banks will start to close down by next generation... Lol! :p
Ya lor.....Tharman just said earn 1k can buy flat.
He nebber said what type of flat.
It's just common sense.
Garmen also said that help will be given to sandwhich class with household income of 9K and 5 persons:eek: Just uncomprehensible for layman people.
ikan bilis
03-03-12, 09:13
a guy with 1K/month very difficult to find a wife so don;t dream of any 2rm bto.... :scared-3: :scared-3:
a guy with 1K/month very difficult to find a wife so don;t dream of any 2rm bto.... :scared-3: :scared-3:
$1k salary alone, no other income, inheritance, almost impossible to find a wife, no 5 Cs, think even agencies scouting for foreign partners will decline ...
ikan bilis
03-03-12, 09:22
$1k salary alone, no other income, inheritance, almost impossible to find a wife, no 5 Cs, think even agencies scouting for foreign partners will decline ...
which one?.. agencies decline you, or even foreign brides reject you... :scared-3: :scared-3:
which one?.. agencies decline you, or even foreign brides reject you... :scared-3: :scared-3:
Obviously both :banghead:
Aiyah.. mixing issues already.
Point of the matter is $1k income with subsidy can still buy a HDB flat.
As to whether a person can find a spouse or not can't be gahmen's problem right?
Having said that, I know of a dispatch rider with abt $1000+ income is married and has 3 kids, their life is not swanky but at least they seem happy. But on the other hand an engineer I know with $9k salary can't find a wife.....
Agreed. Whether a person can afford a private property or not even if they are graduates also none of govt concern right? Govt already give them cheap housing (via HDB flats)! What more they want from a small country where land is more precious and expensive than GOLD? Singapore didn't go HK way is already a blessing to them! :banghead:
Aiyah.. mixing issues already.
Point of the matter is $1k income with subsidy can still buy a HDB flat.
As to whether a person can find a spouse or not can't be gahmen's problem right?
Having said that, I know of a dispatch rider with abt $1000+ income is married and has 3 kids, their life is not swanky but at least they seem happy. But on the other hand an engineer I know with $9k salary can't find a wife.....
Minister of State for Manpower and National Development Tan Chuan-Jin on Friday evening took to Facebook to clarify the comment (http://sg.news.yahoo.com/blogs/singaporescene/online-uproar-over-dpm-tharman-1k-flat-statement-132522414.html) made by Deputy Prime Minister Tharman Shanmugaratnam in Parliament on Thursday.
In a Facebook note (https://www.facebook.com/notes/tan-chuan-jin/earn-1000-a-month-and-you-want-to-buy-a-flat/338028739573241) titled "Earn $1,000 a month and you want to buy a flat?!", Tan intended to clarify and break down the process that permits a household that earns a combined monthly income of $1,000 to purchase a two-room Housing and Development Board (http://sg.search.yahoo.com/search?ei=UTF-8&fr=crmas&p=Housing+and+Development+Board) (HDB) flat.
Taking the example of a two-room Build-to-Order (http://sg.search.yahoo.com/search?ei=UTF-8&fr=crmas&p=Build-to-Order) (BTO) flat in Fernvale Lea in Sengkang, that was offered in January this year, Tan took its selling price of $100,000, from a price range of between $83,000 and $112,000.
He said first-time applicants who earn $1,000 in combined monthly income qualify for the Additional CPF Housing Grant of up to $40,000, as well as the Special CPF Housing Grant of up to $20,000, which can be used for the down payment for the flat purchase. This will amount to offsetting $60,000 from the selling price.
With a loan from HDB for the remaining $40,000, Tan demonstrated the repayment as follows:
Taking a 30-year loan: $161 per month
Taking a 25-year loan: $182 per month
Taking a 20-year loan: $214 per monthHe pointed out that for an income earner with a $1,000 monthly salary, he has $217 contributed monthly to his CPF Ordinary Account, which means that his monthly cash outlay will be $0.
"This support for families enable them to move from rental to owning their own homes," said Tan, who added that rentals for families with total monthly incomes of $1,000 come up to between $90 and $123 for a one-room, and between $123 and $165 monthly for a two-room flat.
Beyond that, Tan wrote that 4,300 two-room BTO flats that have been reserved for families that earn less than $2,000 per month were built since 2006, with more to come this year. He described the situation as "manageable", adding that the Ministry of National Development (MND) is increasing its building of rental flats, so that by this year there will be about 50,000 of them, cutting down waiting time for a rental flat from 21 to eight months.
phantom_opera
06-08-13, 10:46
Tharman is right, look @ the 77X oversubscribed Sengkang project for singles
$1000 pm, $800 cash take home ($200 into CPF).
$800 cash how to survive with a family of 2 hah? (so how to have children hah?!)
Possible expenses:
$50 conservatory charges.
$100 electricity, water, gas bills.
$100 transport to work for 2.
$100 for internet and mobile phone bills.
left $450 for food for a month for 2!
$450 / 2 / 30.5 / 3 = $2.46 per meal for each person!
Wow! Somebody will say got $1.50 chicken rice!
But that $1.50 chicken rice needs 2 plates to fill stomach, + need to incur additional $3 transport fees! :doh:
And what about NO savings? These people need to work until they drop dead at 80+ years old! They cannot be sick! (no money to pay medical bills and medicine!)
Tharman is right, look @ the 77X oversubscribed Sengkang project for singles
Minister of State for Manpower and National Development Tan Chuan-Jin on Friday evening took to Facebook to clarify the comment (http://sg.news.yahoo.com/blogs/singaporescene/online-uproar-over-dpm-tharman-1k-flat-statement-132522414.html) made by Deputy Prime Minister Tharman Shanmugaratnam in Parliament on Thursday.
In a Facebook note (https://www.facebook.com/notes/tan-chuan-jin/earn-1000-a-month-and-you-want-to-buy-a-flat/338028739573241) titled "Earn $1,000 a month and you want to buy a flat?!", Tan intended to clarify and break down the process that permits a household that earns a combined monthly income of $1,000 to purchase a two-room Housing and Development Board (http://sg.search.yahoo.com/search?ei=UTF-8&fr=crmas&p=Housing+and+Development+Board) (HDB) flat.
Taking the example of a two-room Build-to-Order (http://sg.search.yahoo.com/search?ei=UTF-8&fr=crmas&p=Build-to-Order) (BTO) flat in Fernvale Lea in Sengkang, that was offered in January this year, Tan took its selling price of $100,000, from a price range of between $83,000 and $112,000.
He said first-time applicants who earn $1,000 in combined monthly income qualify for the Additional CPF Housing Grant of up to $40,000, as well as the Special CPF Housing Grant of up to $20,000, which can be used for the down payment for the flat purchase. This will amount to offsetting $60,000 from the selling price.
With a loan from HDB for the remaining $40,000, Tan demonstrated the repayment as follows:
Taking a 30-year loan: $161 per month
Taking a 25-year loan: $182 per month
Taking a 20-year loan: $214 per monthHe pointed out that for an income earner with a $1,000 monthly salary, he has $217 contributed monthly to his CPF Ordinary Account, which means that his monthly cash outlay will be $0.
"This support for families enable them to move from rental to owning their own homes," said Tan, who added that rentals for families with total monthly incomes of $1,000 come up to between $90 and $123 for a one-room, and between $123 and $165 monthly for a two-room flat.
Beyond that, Tan wrote that 4,300 two-room BTO flats that have been reserved for families that earn less than $2,000 per month were built since 2006, with more to come this year. He described the situation as "manageable", adding that the Ministry of National Development (MND) is increasing its building of rental flats, so that by this year there will be about 50,000 of them, cutting down waiting time for a rental flat from 21 to eight months.
Tharman is right, look @ the 77X oversubscribed Sengkang project for singles
1.8k just nice. 1k a bit tight la... But all grants in, 16k tdsr sui sui gao julong
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